Posts Tagged ‘Donald Trump’

$1 blackjack tables helping Atlantic City casinos

Tuesday, August 24th, 2010

I have written before about how raising the minimum bet limits for blackjack tables can cause a drop in revenue for the casinos rather than an increase. Casino games, like any other product, good or service, is governed by the rules of supply and demand. Or at least they should be. The casinos charge a price to play the game that the players consider the games to be worth. If the casino charges too little money, they risk not making enough to justify carrying the game (or so they say). If they charge too much, players may opt to not play.

The casino industry is hurting thanks to the recession and they are looking for ways to increase revenue. Some casinos, such as those in Colorado, have made $10 tables the cheapest, but they risk losing some blackjack novices who don’t want to wager that price.  Some Atlantic City casinos are now taking the opposite route in an attempt to lure more players. The casino will make less money on each hand, but hopefully have more players.

The Trump Marina Hotel Casino, owned by that guy who fires people on TV, has introduced $1 blackjack tables in an attempt to boost business. As a result, they are seeing the best business they have had in years. Back in the 1990’s, $2 tables were common in Atlantic City, but those were gradually phased out in favor of $5 and even $10 tables as the cheapest.

With the resurgence in popularity for blackjack tables at the Trump Marina, here’s hoping that the $1 blackjack table trend will catch on. It’s the perfect way for gamblers with smaller incomes or novice gamblers to have fun at the casino without worrying too much about their cash.

Of course, at online casinos there are even more opportunities for low-minimum blackjack tables. It is common to find $1 and $2 blackjack tables online if you look hard enough. In addition, some online casinos hold blackjack tournaments, where you can buy in for a low price or maybe for no entry fee at all, if it’s a free blackjack tournament.

PA May Revoke License of Foxwoods Casino

Friday, April 30th, 2010

It’s not easy to open a casino in the United States, or anywhere for that matter. There is a ton of red tape, regulations that need to be met, licensing requirements, and big investments have to be made up front. Now one Pennsylvania casino may go out of business before it even begins business.

Foxwoods Casino is a proposed $500 million casino that is supposed to be located in south Philadelphia, along the Delaware River. However, it still hasn’t been built and there is no indication that it would happen anytime soon. Now it is in danger of having its license revoked.

Foxwoods Casino received a gambling license to operate slots, blackjack and other table games back in December of 2006, but has run into nothing but problems since then. To highlight a few of the problems, they have been indecisive about where to build the casino, some citizens are opposing it, and there have been major problems with financing.

That’s the big one. It takes a lot of money to build a casino because not only do you have the normal costs that go along with starting a company, you also have tons of different fees that go to the government. Original investors in the casino have backed out and Foxwoods is now looking for more financing. Last month, Nevada casino developer Steve Wynn showed interest in rescuing the project, but then backed out.

The Gaming Control Board has lost patience with the Foxwoods Casino project. Cyrus Pitre, a lawyer for the Board, stated that he is filing a complaint to revoke their gambling license. Foxwoods officials would then have 30 days to fight the revocation and prove that they still have the means to open and run the casino. There could also be a lengthy appeals process in the courts.

Yesterday, the Gaming Control Board rejected a request by Foxwoods Casino for six more months to line up new investors. The Board thinks that Foxwoods has had enough time to get financing and is ready to move on. The Board also upheld a $2,000-per-day fine on Foxwoods – which is currently at $300,000 —  for missing a deadline to submit data showing their progress.

If Foxwoods has their gambling license revoked, that would allow other casino developers to come in and compete for a license. Donald Trump showed interest in the past – even attempting to get a Philadelphia casino license in 2006 –  and may be a player in the future if Foxwoods loses their license.

So if you live in the Philadelphia area and were excited about a new casino, you might want to look elsewhere, because it will be some time before one is running near you. The good news is that western Pennsylvania approved the licenses of two new casinos, the Meadows in Washington County and the Presque Isle Downs in Erie County. But should have slots, blackjack tables and more by July. Then again, we’ve seen how hard it is to get a casino up and running around there…